Guest koo Posted February 19, 2010 Posted February 19, 2010 Our recordkeeper will not provide an annual Trust statement until May of this year. Is there any deadline the recordkeeper has to follow? This seems like to long a time to wait. We have contacted our recordkeeper and they are not responsive. Other than contacting a government agency, what are our options?
david rigby Posted February 19, 2010 Posted February 19, 2010 Our recordkeeper will not provide an annual Trust statement until May of this year. Recordkeeper? Isn't the trustee responsible for providing a trust statement? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Guest koo Posted February 19, 2010 Posted February 19, 2010 I should be more clear. Our recordkeeper works with the Trust Company. EIther way, we cannot get a Trust Statement for the past year from any of our service providers.
K2retire Posted February 20, 2010 Posted February 20, 2010 Switch to a more responsivle record keeper?
Peter Gulia Posted February 20, 2010 Posted February 20, 2010 In addition to a trustee's duties and obligations to render accounts promptly, under ERISA 103(a)(2) a bank or trust company must certify the information needed for a plan administrator's annual report no later than 120 days after the end of the plan year. Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
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